TMO - Thermo Fisher Guidance Is Weak Analyst Concerned About Sluggish Market Fundamentals | Benzinga
KeyBanc Capital Markets analyst Paul Knight downgraded Thermo Fisher Scientific Inc (NYSE: TMO) to Sector Weight from Overweight.
Yesterday, TMO posted Q3 revenue of $10.574 billion, down 1% Y/Y, missing the consensus of $10.595 billion. Adjusted EPS of $5.69 beat the consensus of $5.61.
Given the current macroeconomic environment, the company lowered the outlook for FY23 revenue to $42.7 billion (prior $43.4 billion - $44.0 billion) vs. $43.53 billion consensus and adjusted EPS to $21.50 (prior $22.28 - $22.72) vs.